empty
31.01.2025 03:17 PM
Trading Signals for GOLD (XAU/USD) for January 31, 2025: buy above $2,780 (21 SMA - 8/8 Murray)

This image is no longer relevant

Early in the American session, Gold (XAU/USD) is trading around 2,797 with a bullish bias above the 21 SMA and within the uptrend channel forming since January 13.

Gold is expected to reach the psychological level of $2,800 in the next few hours or it could even reach 8/8 Murray around 2,812. The instrument could even break through and reach the weekly resistance located at 2,823.

If a technical correction occurs, the gold price is expected to find good support around 2,780 which could be seen as an opportunity to resume buying with a target at 2,812.

In case gold falls below 2,780, the outlook could be negative and we could expect a technical correction towards the 21 SMA located at 2,769. Besides, the price could even reach the bottom of the uptrend channel around 2,761.

The trend remains bullish for gold. Since technically, we see strong buying opportunities, we believe that gold could reach the key level of 2,812 in the coming days.

The Eagle indicator is showing a positive signal, so we will look for buying opportunities in case there is a technical correction towards 2,780 or even towards 2,769.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Technical Analysis for March 2025 on the GBP/USD Currency Pair

In March, starting from 1.2576 (February's closing price), the price may continue moving upward toward 1.2767 – the 50% retracement level (blue dashed line). If this level is tested, further

Stefan Doll 12:11 2025-03-03 UTC+2

Technical Analysis for March 2025 on the EUR/USD Currency Pair

In March, starting from 1.0376 (the closing price of the February monthly candle), the price is likely to continue moving upward toward 1.0573 – the 38.2% retracement level (blue dashed

Stefan Doll 12:08 2025-03-03 UTC+2

EUR/USD. March 3rd. The Super Week Kicks Off with a Storm of News

On Friday, EUR/USD declined to the 50.0% Fibonacci retracement level at 1.0371, rebounded from it, and reversed in favor of the euro, consolidating above the 38.2% Fibonacci level at 1.0408

Samir Klishi 11:40 2025-03-03 UTC+2

GBP/USD. March 3rd. Bears May Extend Their Success This Week

On the hourly chart, GBP/USD rebounded from the resistance zone of 1.2611–1.2620 on Friday, leading to a slight decline. On Monday, the pair returned to this zone and may retest

Samir Klishi 11:35 2025-03-03 UTC+2

Forex forecast 03/03/2025: EUR/USD, GBP/USD, USD/JPY, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 11:19 2025-03-03 UTC+2

Technical Analysis of Intraday Price Movement of USD/JPY Main Currency Pairs, Monday March 03, 2025.

If we pay close attention to the 4-hour chart of the main currency pair USD/JPY, it appears that there is a deviation between the price movement of USD/JPY

Arief Makmur 07:07 2025-03-03 UTC+2

Technical Analysis of Daily Price Movement of USD/IDR Exotic Currency Pairs, Monday March 03, 2025.

In the next few days, the exotic currency pair USD/IDR has the opportunity to correct and weaken down to below the area level of 16439.92-16372.18 based on the appearance

Arief Makmur 07:07 2025-03-03 UTC+2

EUR/USD Forecast for March 3, 2025

On Friday, the euro fell by 20 pips, but it has already surpassed that day's high this morning. However, it is likely to continue fluctuating within the range of 1.0350–1.0458

Laurie Bailey 03:33 2025-03-03 UTC+2

GBP/USD Forecast for March 3, 2025

On Friday, the British pound consolidated below the 1.2616 level. The most likely scenario now is a decline toward the support target at 1.2500. This downward movement is expected

Laurie Bailey 03:33 2025-03-03 UTC+2

Oil Forecast for March 3, 2025

On Friday, oil prices consolidated above the level of 69.74. During the Pacific session today, they surpassed Thursday's peak, and now there are no obstacles preventing the price from reaching

Laurie Bailey 03:33 2025-03-03 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.